Coherent Economics News

Coherent Economics President Dr. Alan Frankel Testifies in Chile

Coherent Economics President Dr. Alan Frankel testified before the Tribunal de Defensa de la Libre Competencia - Chile's competition court - in Santiago, Chile on November 11-12 concerning the competitive structure of Chile's credit card and debit card acquiring (merchant services) market.  In Chile, the major banks together formed Transbank, which as a result is a monopoly provider of card acceptance services to Chilean merchants.  Dr. Frankel was retained by the Fiscalía Nacional Económica, the national competition authority, to analyze the structure of the market and how to reform the market to make it more competitive.  As a result of a Supreme Court decision in the case, the Tribunal will issue its decision in the form of a recommendation to the President of the Republic of Chile for the submission of new proposed legislation.

Dr. Alan Frankel Presenting at the Centro de Estudios Públicos in Santiago, Chile, November 10, 2015.

Dr. Alan Frankel Presenting at the Centro de Estudios Públicos in Santiago, Chile, November 10, 2015.

Prior to delivering his testimony, Dr. Frankel spoke about the history of competition and monopoly power in payment systems before the Centro de Estudios Públicos (CEP), Chile's preeminent think tank.  His presentation slides are available below and on the CEP website.

Download Dr. Frankel's slides.


Coherent Economics Clients Volvo and Mack Prevail in Antitrust Litigation

Coherent Economics President Dr. Alan Frankel Serves as Economic Expert on Liability

These cases were brought against Volvo Trucks North America and Mack Trucks Inc., as well as several co-defendants, by two purported classes of direct and indirect purchasers of heavy-duty trucks.  Plaintiffs alleged that Volvo and Mack conspired with other heavy-duty truck manufacturers and Eaton Corporation to stifle competition in the market for heavy-duty truck transmissions and inflate the price of Eaton transmissions.  Judge Sue Robinson dismissed the case brought by the direct purchaser class on August 31, 2015, and dismissed the indirect purchasers’ case on October 21, 2015.

Volvo and Mack retained Coherent Economics President Dr. Alan Frankel to respond to reports submitted by plaintiffs’ experts, and to provide an independent analysis of Volvo and Mack’s conduct.  Dr. Frankel submitted a report and testified at deposition that Volvo and Mack’s actions were consistent with competitive, unilateral conduct rather than collusive conduct, and resulted in lower transmission prices.

Dr. Frankel was assisted by a team at Coherent Economics including Dr. Roy Epstein, Laurel Van Allen, Zach Frankel, and Franklin Liu, who worked closely with Pepper Hamilton LLP, counsel for Volvo and Mack.  The cases are Wallach et al v. Eaton Corporation et al (1:10-cv-00260-SLR) and In Re: Class 8 Transmission Indirect Purchaser Antitrust Litigation (1:11-cv-00009-SLR).


Coherent Economics President Dr. Alan Frankel Participates in American Bar Association Panel

On Tuesday, January 13th, 2015, Dr. Alan Frankel participated in a panel discussion hosted by the Antitrust Section of the American Bar Association.  The program, "Who May Be Steering Off-Course: Updates on the Anti-Steering Rules Challenges," covered recent developments in enforcement actions and private suits challenging the rules governing merchant acceptance of credit card transactions.

Audio of the program can be accessed below, or on the Association's website.  Dr. Frankel begins speaking at the 6:53 mark.


Coherent Economics President Dr. Alan Frankel Speaks at American Antitrust Institute Conference

On Tuesday, December 2, 2014, Dr. Alan Frankel spoke at the American Antitrust Institute's 2014 Private Antitrust Enforcement Conference.  Dr. Frankel was among panelists asked to discuss the topic, "Antitrust Issues Arising out of Multiple Recent Class Actions by Merchants and Consumers Against Payment Card Networks."  The conference was held at the National Press Club in Washington, D.C.

Audio of the panel session can be found below, or accessed on the institute's website.  Dr. Frankel begins speaking at the 11:40 mark.